Step 2: Total number of terms = Total number of students = 25. California Air Resources Board (CARB) Q2 2020 data has confirmed that the energy weighted carbon intensity (CI) value of Californias natural gas vehicle fuel portfolio in In other words, company-level emission intensity can be declining even though their absolute emissions are increasing. LCCA can be expected to increase appreciably as the California grid becomes cleaner: a lower grid-average carbon intensity decreases carbon abatement and raises LCCA, making progress toward a zero-carbon grid progressively more expensive on a LCCA basis. Weighted Average Carbon Intensity (WACI) measures the exposure to carbon-intensive companies, expressed in tons of carbon dioxide equivalent per unit of revenue. For example, consuming electricity generated from burning coal produces 910g of CO2 per kWh. Values for A, , and 2 can be readily obtained by a least squares fit. While focused primarily on the banking sector, this document contains information that is What is the carbon intensity number I will use in the above equation? When comparing the emitted carbon dioxide, the weighted average of online video streaming usage per day is 51 times more than 14 h of an airplane ride. At least quarterly, calculate at least one GHG emissions-based metric (for example, Weighted Average Carbon Intensity) to assess scheme assets against climate-related risks The weighted average carbon intensity metric will cover exposure to carbon-intensive companies. 2050: net zero across all its production and energy products used by its customers in Europe (scope 1,2 and 3) 2050: 60% or more reduction in the average carbon intensity of energy products used worldwide customers. example) catalyst, followed by diffusion of carbon atoms into the catalyst bulk from the supersaturated surface1921. 1 Weighted average based on the CoE in each 10-year time frame (2010, 2020, 2030, 2040, 2050) 1 Assuming all power costs get passed through to households 4 No carbon price. Weighted average carbon intensity applies only one lens and is backward-lookingit doesnt encompass company policies and other forward-looking information. Due to Puget Sound Energys significant use of coal generation, the carbon intensity of electricity from utilities in the four county Puget Sound region was calculated to be over two times greater than the Washington State average. For the years 2015-2018, we observed a slight improvement in the weighted carbon intensity of our portfolio compared to the benchmark. The analysis of the carbon intensity of streaming video presented in this piece is based on a range of sources and assumptions, calculated for 2019 or the latest year possible. Page 3 of 174 Advisory Committee Process and Program Design Low Carbon Fuel Standards TABLE OF CONTENTS I. 2050: net zero across Total's worldwide operations, scope 1 and 2. The quantity of scope 2 emissions is relatively smaller, at 342,000 tons of CO 2 equivalent. Greenhouse gas emissions are based on portfolio weights, rather than ownership share, to allow for comparison across multiple asset classes. The annual crude average carbon intensity values are a volume-weighted average of the carbon intensities for the crudes supplied in a given year. Carbon Footprint: Provides a normalized snapshot of the funds contribution to carbon emissions. Nuveen ESG Large-Cap Value ETF has an MSCI ESG Fund Rating of AAA based on a score of 8.66 out of 10. For bond investors, the most relevant metric is the weighted average carbon intensity of a portfolio. The MSCI Weighted Average Carbon Intensity metric is displayed for funds with any coverage. By linking carbon emissions to capital ownership, large portfolios will necessarily have a higher carbon footprint than smaller portfolios that hold the same securities, making direct comparisons impossible. To A massive global infrastructure investment of $66 trillion is needed in emerging economies before 2030. Energy (index) = Activity (index) x Energy Intensity (index) x Structure (index) When combining the intensity indexes from two or more different activities, the shares of energy consumption (with slight adjustment) serve as weights in calculating a weighted average of year-to-year changes in the intensities for the various activities. Definitions. The regulation on the EU climate benchmarks requires that the carbon intensity measure used in portfolio construction be based on enterprise value, including cash (EVIC). Carbon dioxide weather Shown is the daily average of the pressure-weighted average mole fraction of carbon dioxide in the free troposphere as modeled by CarbonTracker for March 20, 2009. coal, natural gas, hydropower, etc.) And this is a big but if GDP grows then so too do total emissions. Carbon intensity is a quantity that can be measured at the level of a single company and then it can be aggregated at a portfolio level, where we use the portfolio weights as a weighting factor to aggregate the intensity of individual stocks and therefore to obtain carbon intensity of a portfolio. Google has stated that it has been carbon BUT! University of Sydney: At 30 September 2016, the Universitys listed shares portfolio had a 28.4% lower carbon footprint than the weighted average of its benchmarks. 2.8. A common measure of carbon intensity is the weight of CO 2 per Btu of energy. A weighted average carbon intensity methodology is used, whereby the carbon intensity of each equity and corporate bond holding is proportionally weighted based on its representation in the fund. Measurements of daily average nitrogen dioxide (NO 2, g/m 3), carbon monoxide (CO, g/m 3), and particulate matter smaller than 2.5 335/16 = 20.9. from 2015 to 2016. Scope 3 Carbon Emission Intensity for MSCI ACWI IMI Weighted average carbon intensity (WACI) of the MSCI ACWI Investable Market Index (IMI), as of July 10, 2020. However, we do not market any improvement in our carbon emissions as the estimation model used is quite dynamic and is not an exact science. The weighted average carbon intensity for the public equity and public infrastructure is 130.2/tCO2e/$Sales based on 95.1% data availability. Ambition to be Net Zero by 2050. In all other cases, benchmarks are set at 80 per cent of production-weighted average emissions intensity. As such, the funds sustainable characteristics may differ from MSCI ESG Fund Ratings from time to Step 3: Using the formula, Nokia Oyj 14.80%. In the high-carbon-intensive Energy and Materials sectors, although the median carbon intensity Scope 1 and 2 value is high, its distribution is wide. A cradle-to-gate life cycle carbon analysis for 252 mills in the US was performed by integrating large datasets at the production line level. A weighted average can be considered to be more accurate than any simple average, as all the numbers in the set of data are assigned with identical weights. Weighted Average Carbon Intensity (WACI) measures the exposure to carbon-intensive companies, expressed in tons of carbon dioxide equivalent per unit of revenue. This result is generally true whether the estimates are focused solely on upstream production-related emissions or all the way through to include downstream and end-use emissionsknown as life-cycle emissions. LCFS reporting. When the store sells another 40 units on Jan. 22, they record it under issues-quantity and multiply it by the unit cost of $11.45 for an amount of $458. This intensity is slightly lower than that of natural gas, which produces 53 kg CO2/MMBtu. The Morningstar Portfolio Carbon Risk Score is the asset-weighted average risk rating of companies in a portfolio. Carbon intensity is measured by calculating the weighted average of exposure to carbon-intensive companies within the index. launching a low carbon fuel standard to reduce the carbon intensity of fuels for light-duty vehicles.1 The standard, which limits an industrys weighted average car-bon emissions rate or, equivalently, the carbon emissions per unit of output, allows fuel producers to achieve a given carbon emissions rate by flexibly altering their LCCA can be expected to increase appreciably as the California grid becomes cleaner: a lower grid-average carbon intensity decreases carbon abatement and raises LCCA, making progress toward a zero-carbon grid progressively more expensive on a LCCA basis. 2018 Responsible Investing Report. An emission intensity (also carbon intensity, C.I.) The company also has an interim goal of increasing its non-carbon generating capacity to 30 percent of the total by 2020. Index Carbon Footprint Metrics. In 2015, the ratio of carbon dioxide emissions to total greenhouse gas emissions (including carbon dioxide, methane, and nitrous oxide, all expressed as carbon dioxide equivalents) for passenger vehicles was 0.989 (EPA 2017). A 12-month trailing average Morningstar Portfolio Carbon Risk Score below 10. In other words, the combustion-weighted average of all fuels used to produce electricity in the United States (coal, natural gas, petroleum, nuclear, renewables) is now lower than the carbon intensity of natural gas. Finally, Tomorrow uses the Intergovernmental Panel on Climate Change (IPCC) (2014) lifecycle electricity generation emission factors for each electricity generation source (e.g. The California BCA regime allows electricity Weighted average carbon intensity relies on carbon footprint analysis, an important starting point that itself has limitations. this volume represents an In 2007, the company set a goal of reducing its emissions intensity to 0.2 kg CO2/kWh by 2050 representing a 75 percent reduction from 2007 levels with interim carbon intensity goals for 2020 and 2035. Carbon dioxide emissions intensity is one of the indictors in the Sustainable Development Goals (SDGs) 3, specifically Indicator 9.4.1: CO2 emission per unit of value added. In 2015, the weighted average fuel economy of cars and light trucks combined was 22.0 miles per gallon (FHWA 2017). If the average intensity of a sector in the portfolio is lower than in the benchmark, then the portfolio contains more carbon efficient companies than the benchmark does in the same sector.4 Stock selection effects indicate the potential to reduce the carbon intensity of the portfolio without adjusting sector weightings. In this years report, we describe how we consider environmental, social and governance (ESG) factors in our investment analysis and decision-making processes as we manage the University of Torontos Endowment, Pension and short-term working capital assets. the state average? fewer emissions on average that hybrid models with in-person shopping trips by car Blanco, Sheffi United States, MIT 2017 Green Logistics Presents a systematic methodology for measuring carbon footprint impact. The formula for finding the weighted average is the sum of all the variables multiplied by their weight, then divided by the sum of the weights. balanced assets investments being 58% and 78% less than the carbon intensity of their relevant benchmarks. Only four disclose a sales-weighted average fuel economy, which would provide a better view of real-world fuel and carbon intensity, as less-efficient trucks and SUVs dominate sales. Average Life Cycle Emissions for Major Fuel Categories Carbon intensity varies across fuel types, as shown above for major fuel categories. The volume-weighted-average carbon intensity of all observed fields is ~8.2 g CO 2 eq MJ 1. 6 Portfolio Decarbonization Coalition Our aim is to report production-based carbon intensity as the availability and quality of data improves. Once weve calculated the carbon intensity for each of the individual energy products, we then calculate the overall carbon intensity by taking a weighted average of the individual product intensities, with the weighting based on their sales volumes. Blanco United States, MIT 2017 Estimating the CO2 intensity of intermodal freight transportation Suggests employing public transport The WACI for the APF gilt portfolio was 222 tonnes of carbon dioxide equivalents per millions of GDP (tCO 2 e/m GDP) materially below a G7 reference portfolio of 384 and down 3% on a year earlier. Mailing Address 1280 Main Street West OJN Room 414 Hamilton, Ontario, Canada L8S 4L8 In order to analyse precisely whether this technological shift has occurred, further analysis based portfolio. In other greenhouse Gases estimated greenhouse gas emissions per $ 1 million in across! 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